Core Viewpoint - A class action lawsuit has been filed against Luminar Technologies, Inc. for failing to disclose misconduct by its President and CEO, which led to a significant drop in stock price following his resignation [1][2][3]. Group 1: Allegations and Impact - The lawsuit alleges that Luminar's management failed to disclose that CEO Russell was under inquiry by the Audit Committee, which posed a material risk to the company [2]. - The misconduct created risks that could adversely affect Luminar's business operations, including competition, R&D management, and customer relationships [2]. - Following the announcement of Russell's resignation on May 14, 2025, Luminar's stock price fell by $0.80, or 16.80%, closing at $3.96 per share on May 15, 2025 [3]. Group 2: Legal Proceedings - Shareholders may be eligible to participate in the class action and can contact Robbins LLP to serve as lead plaintiff [4]. - The representation in the lawsuit is on a contingency fee basis, meaning shareholders incur no fees or expenses [5].

The Allegations: Robbins LLP is Investigating Allegations that Luminar Technologies, Inc. (LAZR) Failed to Disclose that its President and CEO was Engaged in Misconduct According to the complaint, during the class period defendants failed to disclose that: (1) defendant Russell was engaged in undisclosed conduct that would make him the subject of an inquiry by the Audit Committee of the Board of Directors; (2) this conduct created material risk that defendant Russell would be released from his positions at ...

Core Viewpoint - Rosen Law Firm has announced a class action lawsuit on behalf of purchasers of Luminar Technologies, Inc. securities during the specified Class Period, highlighting potential misconduct by the company's leadership that may have adversely affected investors [1][5]. Group 1: Lawsuit Details - The class action lawsuit is filed for securities purchased between March 20, 2025, and May 14, 2025, inclusive [1]. - Investors who purchased Luminar securities during this period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A lead plaintiff must move the Court by September 22, 2025, to represent other class members in the litigation [3]. Group 2: Allegations Against Luminar - The lawsuit alleges that Luminar's President, CEO, and Chairman, Austin Russell, engaged in undisclosed conduct that led to an inquiry by the Audit Committee [5]. - This conduct posed a material risk of Russell being removed from his positions, which could adversely affect Luminar's business operations and competitive standing [5]. - The lawsuit claims that Luminar lacked a reasonable basis for its financial guidance due to these undisclosed risks, leading to materially false and misleading public statements [5]. Group 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time [4]. - The firm has been consistently ranked among the top firms for securities class action settlements, recovering hundreds of millions of dollars for investors [4]. - In 2019, the firm secured over $438 million for investors, showcasing its effectiveness in representing investor rights [4].

Core Viewpoint - A class action lawsuit has been filed against Luminar Technologies, Inc. for alleged misleading statements and undisclosed conduct by its CEO, Austin Russell, during the specified Class Period from March 20, 2025, to May 14, 2025 [1][5]. Group 1: Lawsuit Details - The lawsuit claims that Luminar's management made false and misleading statements regarding the conduct of CEO Austin Russell, which could lead to his removal and negatively impact the company's business operations [5]. - It is alleged that the defendants failed to disclose material risks associated with Russell's conduct, which could affect Luminar's ability to compete and manage research and development activities [5]. - The lawsuit asserts that Luminar had no reasonable basis for its financial guidance due to these undisclosed risks, leading to investor damages when the truth was revealed [5]. Group 2: Participation Information - Investors who purchased Luminar securities during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - Interested parties can join the class action by visiting the provided link or contacting the law firm for more information [3][6]. - A lead plaintiff must be appointed by September 22, 2025, to represent the interests of other class members in the litigation [1][3]. Group 3: Law Firm Background - The Rosen Law Firm specializes in securities class actions and has a strong track record, having achieved significant settlements for investors, including over $438 million in 2019 [4]. - The firm has been recognized for its success in securities class action settlements and has consistently ranked among the top firms in this area since 2013 [4].

Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, July 25, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Luminar Technologies, Inc. (“Luminar” or “the Company”) (NASDAQ: LAZR) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Luminar investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq. Investors are encouraged to contact ...

Core Viewpoint - A class action lawsuit has been filed against Luminar Technologies, Inc. for alleged violations of federal securities laws during the specified class period [1][2]. Group 1: Lawsuit Details - The lawsuit seeks to recover damages for investors who purchased Luminar securities between March 20, 2025, and May 14, 2025 [2]. - The complaint alleges that Luminar's executives made false or misleading statements and failed to disclose critical information regarding the conduct of Defendant Austin Russell [3]. - Specific allegations include that Russell's undisclosed conduct posed a material risk to his position, which could adversely affect Luminar's business operations and competitive standing [3]. Group 2: Implications for the Company - The potential loss of Russell as an employee could complicate Luminar's ability to compete, manage R&D, and maintain customer relationships [3]. - Negative public perception and news related to Russell could harm Luminar's brand and industry standing [3]. - The company allegedly lacked a reasonable basis for its financial guidance due to these undisclosed risks [3]. Group 3: Next Steps for Investors - Investors who suffered losses in Luminar have until September 22, 2025, to request appointment as lead plaintiff in the class action [4]. - The law firm representing the class action operates on a contingency fee basis, meaning they will only collect fees if successful [5]. Group 4: Law Firm Background - Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm specializing in securities fraud class actions and has recovered significant amounts for investors [6].

Group 1 - A securities class action lawsuit has been filed against Luminar Technologies, Inc. for alleged misleading statements and undisclosed conduct by a key executive [1][2] - The lawsuit claims that the conduct of Defendant Russell posed a material risk to Luminar's business operations, including competition, R&D management, and customer relationships [2] - The complaint asserts that Luminar lacked a reasonable basis for its financial guidance due to the risks associated with Russell's potential departure [2] Group 2 - Investors who acquired Luminar shares during the specified class period are encouraged to contact the law firm for representation in the class action [3] - The lead plaintiff motion deadline is set for September 22, 2025, indicating a timeline for potential participants in the lawsuit [3]

Group 1 - The Schall Law Firm has initiated a class action lawsuit against Luminar Technologies, Inc. for violations of the Securities Exchange Act of 1934 [1] - The class period for the lawsuit is defined as between March 20, 2025, and May 14, 2025 [2] - Investors who suffered losses during the class period are encouraged to contact the Schall Law Firm before September 22, 2025 [2] Group 2 - The complaint alleges that Luminar made false and misleading statements, particularly involving CEO Austin Russell, which led to an investigation by the Board of Directors' Audit Committee [4] - The potential removal of CEO Austin Russell poses risks to Luminar's business practices, customer retention, and overall brand reputation [4] - The public statements made by Luminar were deemed false and materially misleading, resulting in investor damages once the truth was revealed [4]

Luminar Technologies, Inc. (LAZR) ended the recent trading session at $3.39, demonstrating a -10.32% change from the preceding day's closing price. This change lagged the S&P 500's 0.07% gain on the day. Meanwhile, the Dow experienced a drop of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.18%. Shares of the company have appreciated by 40.52% over the course of the past month, outperforming the Auto-Tires-Trucks sector's gain of 2.96%, and the S&P 500's gain of 5.71%.The investment communit ...

Core Viewpoint - A class action lawsuit has been filed against Luminar Technologies, Inc. for alleged securities fraud, claiming that the company failed to disclose material adverse facts regarding its operations and compliance, particularly concerning CEO Austin Russell's undisclosed conduct [1][5]. Company Overview - Luminar Technologies specializes in advanced LiDAR hardware and software solutions for vehicles [4]. - The company issued its quarterly business update and financial results for Q4 2024 and the full year 2024 on March 20, 2025, and reiterated its guidance for the full year 2025 in its Q1 2025 update on May 14, 2025 [4]. Legal Proceedings - The class action lawsuit, Yskollari v. Luminar Technologies, Inc., was initiated in the United States District Court for the Middle District of Florida [1]. - Investors who purchased Luminar securities between March 20, 2025, and May 14, 2025, are eligible to participate in the lawsuit [1][7]. Allegations - The complaint alleges that Luminar's executives made false or misleading statements and failed to disclose significant risks related to CEO Austin Russell's conduct, which could jeopardize his position and the company's business [5]. - The lawsuit claims that the lack of transparency regarding Russell's situation undermined the company's financial guidance and misled investors [5]. Market Reaction - Following the announcement of Russell's resignation on May 14, 2025, Luminar's stock price dropped by $0.80, or 16.80%, closing at $3.96 per share on May 15, 2025 [6].